Centuria Capital Group has bought an Archerfield property for its industrial REIT after a successful capital raising

A property investment management company has $5.5 billion in its portfolio after a string of deals including an industrial property in Brisbane southern suburbs.

An aerial of Centuria Industrial REIT's new asset at 149 Kerry Rd, Archerfield.

PROPERTY investment management company Centuria Capital Group has secured a Brisbane southside industrial property after a successful capital raising.

Centuria Industrial REIT (CIP) paid $30.6 million for a large office/warehouse at 149 Kerry Rd, Archerfield, in a deal struck by CBRE's Edward Bull and Chris O’Brien and Jll’s Gary Hyland and Tony Luliano.

That purchase and a West Australian property it paid $23.8 million for had been underwritten by a $51 million entitlement offer.

Centuria’s head of real estate and funds management Jason Huljich said the two recent acquisitions takes CIP’s acquisitions to almost $100 million since September.

“Both properties fit with CIP’s strategy to invest in fit-for-purpose, quality assets, well-positioned in established industrial markets and close to major transport infrastructure,” he said.

“They are both 100 per cent leased to high-quality ASX-listed tenants, with strong potential for renewals, and were purchased with an attractive weighted average initial yield of 7 per cent.”

Centuria Capital Group chief executive John McBain said that 2018 was a year of growth and consolidation for Centuria and that he anticipates further activity in 2019.

“Our assets under management were $4.6 billion at the end of 2017, and over the year this figure has grown to $5.5 billion as a result of strategic acquisitions and the expert active management of our existing portfolio,” he said.

“We have a track record of providing funds management and active property management — and we are pleased we have been able to maintain and improve our results in a year characterised by significant growth.”